Seragon has only been in business for around a year or so. As you can see $750 cash and an addition billion depending on how the drugs perform at certain milestones. From the website below:
“At the core of Seragon Pharmaceuticals, are the scientists, clinicians, management and investors of Aragon Pharmaceuticals, Inc. that discovered and developed the breakthrough 2nd generation anti-androgen ARN-509. Aragon was acquired by Johnson & Johnson in August, 2013 for $650 million in cash up front along with $350 million in contingent development milestone payments. Seragon will apply this expertise and proven track record in developing next-generation ER targeting agents to treat endocrine-resistant breast cancer. In addition, with their unique mechanism of action, these novel agents are predicted to have robust activity in early stage disease, thereby supplant existing therapies across the spectrum of breast cancer disease states. This class of agents also has potential to treat other ER-driven cancers as well, such endometrial and ovarian cancers. “
Genentech, a member of the Roche Group (SIX: RO, ROG; OTCQX: RHHBY), today announced it has entered into a definitive agreement to acquire Seragon Pharmaceuticals, Inc. (Seragon), a privately held biotechnology company based in San Diego, California. With this acquisition, Genentech obtains rights to Seragon’s entire portfolio of investigational next-generation oral selective estrogen receptor degraders (SERDs) for the potential treatment of hormone receptor-positive breast cancer.
“This year, breast cancer will claim the lives of nearly 40,000 women in the United States, and up to half of these women will have a disease that is driven by the estrogen receptor,” said Richard Scheller, Ph.D., executive vice president and head of Genentech Research and Early Development. “We believe these investigational oral SERDs could one day redefine the standard of care for hormone receptor-positive breast cancer.”
Under the terms of the agreement, Genentech will make an upfront cash payment of $725 million, plus additional contingent payments of up to $1 billion based on achievement of certain predetermined milestones.
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